President Bush’s Industries Going Blue

Republican John McCain is no George W. Bush, at least not in the view of some of the industries that gave generously to the president’s 2004 re-election campaign. Last week Bloomberg‘s Jonathan Salant used data from CRP to look at how the securities and investment industry, construction sector, pharmaceutical manufacturers and energy companies are giving a greater amount of their money to Democratic candidates this cycle, despite being some of Bush’s biggest backers in 2004. Here’s how much these sectors and industries are donating to each presidential candidate; what they gave in 2004 to both Bush and his Democratic opponent, John Kerry; and Salant’s explanation for the shift:

Construction

Total to Hillary Clinton: $2.3 millionTotal to Barack Obama: $1.7 millionTotal to John McCain: $1.5 millionTotal to George W. Bush, 2004: $8.9 million Total to John Kerry, 2004: $2.2 millionBloomberg’s Salant wrote: “McCain, 71, who voted against the 2005 legislation allocating $286.5 million for highways and transit, proposed suspending the 18.4-cent-per-gallon federal gas tax for the summer, eliminating the main source of revenue for federally funded road projects.”

Pharmaceutical Manufacturers

Total to Obama: $339,729Total to Clinton: $262,870Total to McCain: $74,850Total to Bush, 2004: $516,839Total to Kerry, 2004: $280,688Salant: “During a Jan. 5 debate in New Hampshire, McCain criticized the drug companies for high prices charged to the government’s Medicare and Medicaid programs and said he backed importing cheaper drugs from Canada, a position also held by his Democratic opponents.”

Energy

Total to McCain: $1 millionTotal to Obama: $1 millionTotal to Clinton: $959,617Total to Bush, 2004: $4.9 millionTotal to Kerry, 2004: $754,167Salant: “Like the Democratic candidates, McCain backs legislation to curb greenhouse gases that is opposed by many energy companies.”

Securities & Investment

Total to Obama: $7.5 millionTotal to Clinton: $7 millionTotal to McCain: $3.8 millionTotal to Bush, 2004: $9.2 millionTotal to Kerry, 2004: $4.7 millionSalant: “Bankers and investors don’t point to specific policies affecting their industry in explaining McCain’s lack of support. [Joseph] Grano, a McCain backer [and top Bush fundraiser], said disappointment over what he calls the ‘terrible’ execution of the Iraq war may account for some of McCain’s difficulties. Bush’s job performance is another oft-mentioned reason.”

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